The following article was authored and shared with our readers by Florida foreclosure expert, attorney Evan Rosen.  I interviewed Evan on the foreclosure process, specifically: how banks and third-party groups foreclose on homes without proper documents – and ways you can stop them.  Enjoy the audio and Evan Rosen’s insightful article below. ~ Dr. Joyce Starr

Understanding the Foreclosure Process

by Attorney Evan Rosen

We all regularly hear about the “foreclosure crisis” going on in our country but what you may not know is that the situation in Florida is far worse than in any other state. According to the latest statistics released by the Mortgage Banker’s Association, Florida accounts for 23.7% of all foreclosures nationwide; which correlates to 466,454 homes. Not only is this the largest number of any other state, it is larger than the total number of loans in 22 other states combined. The result is our courts are backed up with a caseload of 260,185 cases. Couple that with the termination of special court funding for foreclosure cases which took effect on July 1st and it appears the crisis in Florida is only getting worse.

So how did this backlog swell to such an enormous figure? Why does it take so long for a bank to foreclose?

This was not always the case, right? Well, we know that before Wall Street started selling shares of stocks in pools of mortgages through a process known as securitization, foreclosures could be handled within a few months. Now, in great part due to the banks’ rush to profit and lack of proper simple documentation required in any real estate or mortgage transfer, as well as the lack of complicated documentation required as a result of the securitization process, no one knows how long some cases will take because in many instances no one can properly prove who is entitled to foreclose.

Like every other plaintiff in any civil lawsuit, the plaintiff has the burden to prove all elements of their case by a “preponderance” or greater weight of the evidence. In a foreclosure action, the entity entitled to foreclose must successfully prove by this standard, among other things, that they are the proper party; the entity or person actually entitled to receive payments due under the terms of the note; and/or the party entitled to foreclose under the terms of the mortgage.

This is generally referred to as “legal standing” and often, the banks cannot prove they have it. What follows is a chart illustrating the time periods in the pre-foreclosure and foreclosure process in Florida.

PRE-FORECLOSURE TIMELINE

Day 1 Payment due, no payment made
Day 7-1 Call from Lender/Mortgage Servicer
Day 16 Late charges begin to accrue
Day 20-25 Call and letter from Lender/Mortgage Servicer
Day 30 Default reported to Credit Bureaus; Lender/Mortgage Servicer sends second letter
Day 40 Lender/Mortgage Servicer sends letter with payment options
Day 60 Lender/Mortgage Servicer sends demand letter or “Acceleration Notice,” Credit Bureaus update their reports.
Day 90 Lender/Mortgage Servicer sends file to attorney, Credit Bureaus update their reports
Day 90+ Any time after 90 days the entity claiming their entitlement to foreclose can file suit. In a scenario in which the entity seeking to foreclose is not the same entity as the original mortgagee or lender, and with competent counsel, this process alone can take more than 12 months.

FORECLOSURE TIMELINE

Day 1 Complaint and Lis Pendens are filed and served with a summons on the property owner.
Day 20 A responsive pleading is due. If not filed, plaintiff moves for default judgment. With competent legal counsel, there can be a multitude of legitimate issues raised via motions, hearings, and discovery requests which would extend this time period greatly.
Day 45 – 60 (If not represented by competent counsel) – Court schedules hearing for default judgment and at the hearing enters final judgment of foreclosure. By statute, the court should order the sale of the property on a specified day within 20-35 days of the order. However, sales can still lawfully take place later than 35 days and are sometimes taking many months after the order is entered.
Day 80 – 95 (If not represented by competent counsel) – Notice of Sale published once a week for two consecutive weeks in local publication, with last posting at least 5 days prior to sale; auction sale conducted; winning bidder applies 5% deposit from funds advanced electronically prior to sale and then pays the rest by noon the following day. Dade, Broward and Palm-Beach Counties conduct their auctions online. Certificate of Sale is filed “promptly” after sale and Right of Redemption ends when certificate of sale is filed.
Day 105 (If not represented by competent counsel) – Ten days after filing Certificate of Sale, Certificate of Title is issued – Title vests, no further action necessary unless property is still occupied.
Day 106 -119 (If not represented by competent counsel) – 1 -14 days after Certificate of Title issues, if property still occupied, sheriff issues Notice to Vacate.
Day 119 – 140 (If not represented by competent counsel) – 1 – 21 days after Notice to Vacate, sheriff vacates the property.

If, on the other hand, the entity seeking to foreclose is not the same entity as the original mortgagee or lender, and the owner has retained competent counsel, this process can take years, if the bank is ever able to foreclose.

The above is just an overview to help understand the current state of the foreclosure process. For more details or if you have any questions or comments, you are welcome to call or e-mail the author of this article for more information.

Evan M. Rosen
Rosen & Rosen, P.A.
4000 Hollywood Blvd, #725-S
Hollywood, FL 33021
954-981-1852(Phone)
erosen[at]rosenandrosen.com
www.rosenandrosen.com

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Foreclosure Process Inside Story. Attorney Evan Rosen: Why Banks are Slow to Foreclose. originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on August 29, 2011.

A homeowner based in Texas missed a $400 payment to his homeowners association – which soon mushroomed into an additional $3000/plus in legal fees and interest, foreclosure and finally, eviction. Dr. David Goldenberg, author of one of the three books in our Homeowner Rights Defense Kit (available on StarrPublications.com), joined me for a lively discussion on February 12, 2009:

How to avoid setting off a homeowners association or condo association foreclosure avalanche when you’re standing in
front of it.

Here’s the email I received from the homeowner:

“Hi, I am writing to you about the my homeowners association. I have been working out of the country or out of the city for most of the year last year. I owed the home owners association $400 and by the time I realized their was a problem, they had turned it over to their attorneys, and instead of owing $400 the bill was several thousand dollars. I had been in contact with their attorneys less than two weeks ago trying to negotiate a fair settlement. I had to go back out of town, and when I returned Wednesday night I had an eviction notice on my door. The HOA had foreclosed on my home, sold it in an auction, and now I am being evicted from my home over an $400 original bill. I am not behind on my house payments, but now I will be evicted from my home because their is no oversight on home owners associations by the government to keep HOAs from abusing people. Please address this issue, because I understand that about 30 others were done the same way as me.”

Dr. Goldenberg argued that the owner:

1) Had a legal responsibility to read and understand his obligations as set forth in  his homeowner association documents;

2) Should have alerted the HOA that he would be traveling and arrange for some form of ongoing communications;

3 Arranged automatic payments from his bank or immediately paid the past due amount before it escalated out of control.

He reminded us about the Admiral who failed to pay his Association dues because he had been kidnapped and was being held captive! Unsympathetic judges ruled against the unlucky Admiral, and he lost his home.

An HOA or condo  has a legal responsibility to demand delinquent payments in writing within a specific time frame, in order to prevent economic collapse. However, I pointed out that while Associations are justified in leveling fines for delinquent payments, excessive legal fees make it impossible for owners to catch up. The owner in question would have gladly paid the $400 and even the fine. He could not pay $3000 in legal fees and interest. As a result, he was foreclosed and evicted. Dr. Goldenberg agreed.

A tort reform group based in Texas offers excellent suggestions for mediation that I will include in a subsequent post on this topic. (The question is: who will pay for the mediation, and can it be conducted in time?)

Purchase the Homeowner Rights Defense Kit

Listen to the program below. Share your ideas on how to solve this insidious problem by sending your comments.

Dr. Joyce Starr

Rights Radio Self Help Hour: How to Lose Your Home for $400 or Less originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on February 15, 2009.

Dr. Goldenberg authored Creating Condo & Home Owner Documents, one of the three books in our Homeowners Association Rights Defense Kit, along with our special report, “How to Recall Your Codo or HOA Board in 10 Easy Steps.”

He’s also co-chairman of our Rights Radio Think Tank Brain”Trust”.

Among his many works, he wrote The Art of War 3: The Canons of Commerce,” an insight-filled interpretation of Sun Tzu’s Art of War from a business perspective. The Art of War 3 goes straight for the jugular and leaves very little room for a wandering mind,” declared a key reviewer.

Now Dave is turning his keen mind to Strategies for Economic Revival. His view:

“This has been the largest destruction of human wealth in history, but we hear little about that fact. On the other hand, there will be an upturn – possibly a huge one. This is not the end of the world, and we haven’t fallen off the edge of the universe. But it could be quite a while… If the government of the United States acts brilliantly and persistently in leading the world, the US economy can sustain a very fast growth rate – recouping all the money that’s been wasted by 2025. But if it does not do what is necessary, the United States will be in a near depression for seven to ten years and then slowly recover.”

WHEN: Wednesday, November 19, 2008

WHERE: LIVE on THIS PAGE! The Live play button is visible during the show. If you missed the show, you can hear the streaming replay immediately below.

STREAMING REPLAY! CLICK THE REPLAY BUTTON BELOW:

Dr. Goldenberg presented his special report on “Strategies for Economic Revival” to several key economic organizations at the end of November, 2008. A copy of his presentation will be available on STARRPublications.com. Please join our mailing list on the right side of this page (or below) for publication announcements.

*****

Amazon Review for Dr. Goldenberg’s Cannons of Commerce
By Giri Giridhar, Co-Chairman, qMGN, Inc. (Ridgewood, NJ, USA) -

Business like war requires strategy, intelligence, etc., as exemplified brilliantly by David Goldenberg in The Art of War 3: The Cannons of Commerce. This book has a foreword, 13 chapters, an afterword, three appendices, a detailed bibliography and an index. Besides its timeliness, this well-written book offers great depth and experience-based knowledge. The book brings well thought out and insightful attention to bear on many important topics; among them are leadership, weaknesses and strengths, and contingencies. Decision-makers at all levels of business and government would benefit greatly by reading this book carefully, rereading it regularly and seeing that their subordinates do so as well.

Economic Revival Strategies: How & When originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on November 17, 2008.

Click Here for Your Condo Rights - HOA Rights Defense Kit

Do you have a condo rights problem. Contact Dr. Joyce Starr – Condo Coach – HOA Coach at 786.693.4223 or visit StarrPublications.com for condo rights and HOA rights books and special reports.

Topic: Important changes to Florida Condo Act FS 718 resulting from the recent passage of Florida Bill H 995.

Show Date: SEPTEMBER 24, 2008 at 5:00 PM.  Join our mailing list on the right-hand sidebar to receive instant notification about future homeowner association rights broadcasts.

Guest: Jan Bergemann, President, Cyber Citizens for Justice, CCFJ.net. Back by popular demand, Jan Bergemann discusses condo association board candidate eligibility and certification.

He will also discuss the soon-to-be released CCFJ HOA REFORM SURVEY.  Although final survey results are still being tallied, Jan provides important highlights. Condo & HOA owners demand reforms, especially regulatory agency enforcement reforms and increased accountability for the people in charge.

Click Here to Learn How to Defend Your Condo & HOA Rights

The plunging housing market and roller-coaster stock market demonstrate that owners are being misled when told that condo associations and HOAs inherently protect property values.

To the contrary! Numerous condo associations and HOAs create a serious financial liability for their association members.

The many foreclosures and empty homes/units create a crippling financial burden for responsible owners. Associations have to raise the monthly fees and levy special assessments to cover the budget shortfalls caused by foreclosed and empty homes.

This results in greater financial strain on owners whose finances are already overburdened – causing more families to lose their homes!

How to Listen to the Show! Click the play button below:

Protect your Homeowners Association Rights with our
Homeowners Association Rights Defense Kit

To your empowerment!

Dr. Joyce Starr

Your Homeowners Association Rights: Condo Rights & HOA Rights originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on September 22, 2008.

Featured Rights Radio Guest: Florida State Representative Julio Robaina – July 2, 2008

Program Highlights:

• New regulations against condo association managers (CAMS);
• Civil penalty for knowingly or intentionally failing to maintain accounting records;
• New protections against fraud and embezzlement;
• Malicious intent will be penalized;
• Why Florida Condo Act is becoming model for the nation.

“I am embarrassed to tell you that some Florida condos actually allow common elements (versus real people) to constitute a vote. We have a condo that has a vote for a broom closet! This is the type of problem that people have had to deal with for years.” – Julio Robaina

This show is now available as an instant download.

© Copyright by Dr. Joyce Starr, 2008. All Rights Reserved. This program cannot be offered on any third party site without the written permission of Dr. Joyce Starr .

Become the EXCLUSIVE SPONSOR for THIS AUDIO. Contact Us for Details. .

Florida Condo Act as National Model originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on July 5, 2008.

Listen to Dr. Joyce Starr’s interview with mortgage expert Jack Debrawa – June 18, 2008.

Program highlights:

• How mortgage short-selling and mortgage short refinancing can prevent major losses.
• Why purchasing property now could be a big mistake.
• Why condo association or homeowners association (HOA) members are the
  ultimate losers when boards rush into unnecessary or preventable liens and foreclosures.
• Where you can turn today for mortgage refinancing. Only a few viable companies remain.

“There are still banks that lend money, but the credit standard is high. They want to see a good borrower. They want to see a good credit score. Six hundred is a low credit score – which will require two years of income. In Florida, you have to show all of your income, including all of your assets. The bank will phone your employer to determine if you will still be employed 12 and 24 months from now.”

The instant replay of this show was available on this page for nearly two months. But don’t worry. If you missed the LIVE show and the instant replay, you can still hear this show.

Click here for the mortgage and foreclosure audio.

Save Money on Mortgage Refinancing. Listen to this Rights Radio.com show. originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on July 3, 2008.

• There are over 2100 foreclosures daily across America. Who is responsible for this crisis?
• What if you’re unable to make your mortgage payments on time?
• What if you can’t pay your condo or HOA fees or assessments on time?
• What is mortgage “short-selling” and mortgage “short” refinancing?
• How some savvy homeowners shaved tens of thousands of dollars or more
  off existing mortgages and thereby avoided foreclosure. What the banking industry doesn’t want you to know.

Guest: Jack Dubrawa, a straight-talking mortgage expert with 18 years of sales experience in the mortgage arena. He spent nearly 12 of those years with Washington Mutual. You can reach Jack Dubrawa at: 954.608.0887

Date: June 18 at 5:00 PM EST (2:00 PM PST). Click here to listen to the show LIVE.

Foreclosure & Mortgage Crisis: How to Stop the foreclosure process originally appeared on Rights Radio™ with Dr. Joyce Starr - An Independent Voice on June 17, 2008.